Things Going from Bad to Worse for Elon Musk: After the Cyberattack on X, Tesla Plummets in the Stock Market
Elon Musk's tough week intensifies with a spectacular drop in Tesla's stock, which fell over 15% in just one day. This market debacle coincides with a massive cyberattack that paralyzed his platform X for several hours, placing the billionaire in multiple crises.
The empire of the most controversial billionaire in tech is going through unprecedented turbulence. While the historic cyberattack on X continues to disrupt the social network, Tesla is now bearing the brunt of a widespread loss of investor confidence. This double blow comes amid Musk's political engagement with Donald Trump, which is more divisive than ever.
Tesla's stock plummeted by 15.4% on Monday, closing at $222.15, its lowest level since late October 2024.This drastic decline completely erases the famous "Trump bump" that had boosted the stock after the US presidential election. The situation is even more remarkable as Tesla had rejoined the prestigious club of companies valued at over $1 trillion last November. In just a few months, the automaker has lost over $700 billion in market capitalization, with shares now down over 53% from their peak in December.
